In the report, Wunderlich Securities noted, "We are reiterating our Buy rating and $27 price target on shares of Vera Bradley, Inc. (VRA), but we are lowering our FY16 EPS projection and introducing FY17E EPS of $1.34 with the company reporting fiscal 4Q15 results before the open tomorrow. We continue to believe in management's shift away from the core patterned products and its focus on creating a true online presence and materially expanding the breadth and price points of the handbag assortment. That said, given the somewhat sluggish handbag environment, we believe the changes will take more time to materially improve the company's overall results than we originally projected. As such, we are rolling out FY16 quarterly projections that are both more conservative and back-end weighted."